Certified Anti-Money Laundering Specialist Certification (CAMS) Practice Exam

What is the Federal Service for Financial Monitoring?

1. The FIU of Canada

2. The FIU of the UK

3. The FIU of Russia

4. The FIU of the United States

The correct answer is: The FIU of Russia

The Federal Service for Financial Monitoring, known in Russia as Rosfinmonitoring, serves as the financial intelligence unit (FIU) of Russia. Its primary responsibility is to oversee the country’s anti-money laundering (AML) efforts, implement measures to combat financial crimes, and facilitate the exchange of information related to suspicious financial activities. As an FIU, it collects, analyzes, and disseminates financial intelligence, assisting law enforcement and regulatory agencies in investigating potential money laundering and terrorism financing activities. In contrast, the other options refer to financial intelligence units of different countries. The FIU in Canada focuses on detecting and preventing money laundering and terrorist financing within its jurisdiction, while the UK’s FIU operates under the National Crime Agency to address financial crimes. The United States has its own FIU known as the Financial Crimes Enforcement Network (FinCEN), which has similar responsibilities in the U.S. context. Each of these organizations operates independently within their respective countries, which underscores why the correct identification of Rosfinmonitoring as the FIU of Russia is essential in understanding the landscape of global financial surveillance and regulation.